LeoPrime Daily Market Analysis

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GBPUSD under bearish pressure; Likely to fall to 1.30650

GBPUSD under bearish pressure after the earlier downward reversal from the powerful resistance area located between the long-term resistance level 1.34000 (which has been reversing the price from the middle of 2018. as can be seen below) bad the upper weekly Bollinger Band. Given the strengthening bullish Swiss franc sentiment seen across the currency markets today – GBPUSD is likely to fall further toward the next support level 1.30650 (low of the previous weekly correction (ii)).

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